Look first at management. That's the key to a company.

This is the first time going back to 1890 in which the key assets of the company to be broken up consist of human beings and ideas. Who can predict what these people will do, and how effective the entities will be?

You trivialize the idea of competition totally, then there's no point in having the competition in the first place, and everybody is getting a trophy.

I think it's a good company with a very strong management and it's priced very attractively relative to the market and its peers like T. Rowe Price and Franklin Resources.

We think it is a great plan and we're very supportive of the company and management and look forward to the execution of their program.

We believe this represents a fundamental shift for the company and, at a minimum, indicates management is serious about considering all options for profitable growth.